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How to crowd-fund community projects

document Crowdfunding
A radical new solution to funding community regeneration projects is being piloted in the ex-mining town of Glyncoch, South Wales. While most donors will never even visit, the reach of Twitter allows popular projects to tap into new funding sources.

Can Twitter build a community centre? Stephen Fry seems to think so. He's backed a campaign to crowd-fund a community centre in a town battered by disappointment for seven years.

Spacehive aims to shake up planning by allowing anyone to post projects to improve public spaces. Whether it's a community centre, park or a revamped high street, anyone can take the idea to market, raise funds and ensure it goes ahead.

With the Spacehive model, funders only pay if the project actually goes ahead. The aim is to widen the pool of funding for projects so that everyone from locals to Stephen Fry's Twitter followers in New Zealand can contribute. With councils facing continued austerity, this could come as welcome relief.

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